CLEVELAND--(BUSINESS WIRE)--Blue Point Capital Partners (“Blue Point”) and its Blue Point IV portfolio company, VRC Engineered Solutions (“VRC”), announced today the acquisition of Cascadia Custom Molding (“Cascadia”). The acquisition will expand VRC’s product offerings and geographic footprint while enhancing manufacturing capabilities and diversifying end markets served.
For over 40 years, Cascadia has provided high-quality thermoplastic components to highly regulated and attractive markets such as medical, aerospace and consumer goods. Cascadia operates out of manufacturing facilities in Coeur d’Alene, Idaho, and Woodinville, Wash. The acquisition will expand VRC’s manufacturing footprint into the Pacific Northwest, offering increased capability and flexibility for both VRC and its customers.
Blue Point and the VRC management team value Cascadia’s diverse customer base and focus on complex, low-volume parts, as well as in-house capabilities that further expand VRC’s tooling, materials, production and service capabilities.
“This acquisition strategically marks the next phase of growth for both VRC and Cascadia. Uniting the respective company visions and leveraging their combined capabilities, services, technologies and expertise across all locations will offer significant benefit to our customers,” said Blue Point Partner Jonathan Pressnell. “The geographic and end market expansion, along with the potential for cross-selling opportunities, makes the combined company well-positioned for growth.”
With over 25 custom material manufacturer investments over the course of its 20-year history, Blue Point and its network of operating executives bring substantial commercial, operating and technical experience to support the management teams. Dale Meyer, who along with his wife, Janeanne Upp, has owned Cascadia for 18 years, said, “We decided to partner with VRC, and Blue Point, because we could see the same philosophical approach and strategic fit between the companies, the management teams and our vision of the future for Cascadia.” P&M Corporate Finance (PMCF) served as financial advisor to Cascadia in the transaction.
Cascadia is VRC’s first add-on acquisition since Blue Point acquired the platform in August 2019. “The thesis supporting our investment in VRC was to provide unique resources to drive organic growth, while at the same time leveraging our M&A competency to expand the platform via acquisitions,” said Blue Point Partner John LeMay. “The Cascadia platform fits squarely within the key end markets and capabilities of our focused add-on strategy, and we are enthusiastic about the opportunities available to the combined company going forward.”
“Our partnership with Blue Point is highlighted by their support in identifying the best, complementary capabilities to execute against our core growth strategies. Over the past 50 years, VRC has committed to expanding our platform and continually adding value for our customers,” said VRC President Tom Gebhardt. “The Cascadia acquisition provides additional capabilities and synergies which allow us to offer a more diverse product portfolio and a one-stop-shop. I am excited to work with the collective team to continue to build a world-class organization rooted in operational excellence and superior customer service.”
VRC Engineered Solutions (www.ritus.com) was founded in 1963 and has since served customers primarily in the aerospace & defense, automotive, industrial, oil & gas, marine and medical end markets. VRC is made up of Ritus and its sister companies, Vanseal and Classic Molding, which operate under the same management team and support one another in their mission is to provide solutions and maximum value to their customers. This is achieved upon being a leader in engineering and polymer technology and product solutions, excellent technical support, data-based decisions and superior service.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve dramatic growth. The Firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources and unique toolkit, which includes supply chain/Asian capabilities, data and digital strategies, human capital strategy and focused add-on acquisition efforts. Blue Point typically invests in businesses that generate between $25 million and $300 million in revenue.
Blue Point Capital Partners
John LeMay | Partner | (216) 535-4707
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PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE: PPG) today announced the launch of PPG PITTHANE® ULTRA LS high-performance polyurethane topcoat, which is formulated for applications in corrosive environments that require low sheen to limit glare and hide surface imperfections.
Used in a two or three-coat system, the new topcoat provides long-lasting protection for applications such as bridges, stadiums, and fuel and water storage tanks while providing minimal reflectivity and excellent aesthetics.
“The PPG PITTHANE coatings family is known for its corrosion resistance and color retention along with its easy application and excellent flow and leveling characteristics,” said Herman Rodriquez, PPG director of demand driving, protective and marine coatings, U.S. and Canada. “PPG PITTHANE ULTRA LS low-sheen topcoat extends these application and performance benefits to facilities located near roadways, where glare can impact drivers, as well as high-impact environments such as stadiums, where a low-gloss finish can make surface imperfections less noticeable.”
For architects and specifiers looking to meet specific performance requirements, PPG PITTHANE ULTRA LS topcoat is tested to stand up to C3, C4 and C5 corrosive environments according to International Organization for Standardization (ISO) 12944:2018 standards. The product is considered suitable for USDA incidental food contact applications and meets Society for Protective Coatings (SSPC) Paint 36 level 3 performance, Master Painters Institute (MPI) 83 requirements and low volatile organic compound (VOC) air quality standards at 240 g/L.
For applicators, PPG PITTHANE ULTRA LS topcoat is easy to mix and apply, provides an unlimited recoat window and can be applied at surface temperatures as low as 20 F or minus 7 C.
PPG PITTHANE ULTRA LS topcoat is available in Canada and the U.S. For more information, visit ppgpmc.com.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
We protect and beautify the world is a trademark and PPG PITTHANE and the PPG Logo are registered trademarks of PPG Industries Ohio, Inc.
CATEGORY Protective and Marine Coatings
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Artificial intelligence-powered customer engagement solution brings consumption-level insights for customers to better manage energy usage and carbon footprints
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Bidgely in partnership with Electric Ireland, Ireland’s largest energy retailer, announced the introduction of an AI-powered customer engagement solution delivered via email and web portal that creates new customer value from smart meter data. With the roll out of approximately 2.4M smart meters in Ireland over the next three years, the customer-centric program will provide appliance-level consumption insights based on a home’s actual energy usage data collected by smart meters and is aimed at helping customers more effectively manage their energy usage and carbon footprints.
“Smart meters introduce new opportunities for Electric Ireland to create more customer value through personalized and engaging insights that reveal the details about how customers are using energy,” said Susan Whyte, smart meter program manager at Electric Ireland. “Our pioneering use of established tools for maximising the value of customer data in Ireland is backed by Bidgely’s global track record of delivering increased customer engagement and satisfaction.”
Through email and web portal enhancements that personalize energy insights and educate customers on their individual usage, Electric Ireland can recommend the best price plans for each consumer. Electric Ireland can seamlessly integrate these insights to provide tailored content for generated email notifications and also add value to its residential web portal.
“We applaud Electric Ireland for being a first-mover in AI-powered data analytics; an initiative that brings greater value to energy consumers and serves as a strong competitive advantage in a region that vies for customer loyalty and satisfaction,” said Abhay Gupta, CEO of Bidgely. “Bidgely has worked diligently to bring its Silicon Valley innovation to energy providers around the world, and like others, Electric Ireland stands to benefit from our higher than average industry engagement and satisfaction rates.”
To learn more about how personalized energy insights are driving the new normal and global energy revolution, watch this session with research firms IDC and Delta-EE from Bidgely Engage Europe.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Christine Bennett
Bidgely
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BETHESDA, Md. & TOKYO--(BUSINESS WIRE)--#CleanEnergy--Enviva, a global renewable energy company specializing in sustainable wood bioenergy, and Mitsui O.S.K. Lines (MOL), a leading global marine transport group, today announced they have signed a memorandum of understanding agreement to develop and deploy an environmentally friendly bulk carrier. The goal of the agreement is to reduce the greenhouse gas (“GHG”) emissions in the ocean transportation of sustainable wood pellets. In the initial stage, the partnership will explore the environmental benefits, commercial and operational feasibilities of various technologies. This will include the “Wind Challenger”, a cargo ship design with a hard sail, which would reduce emissions by harnessing wind energy. MOL have been jointly studying the technology with cross-industrial partners.
“Enviva is very excited to partner with MOL on this innovative project to reduce greenhouse gas emissions in our supply chain,” said Thomas Meth, Executive Vice President, Sales and Marketing of Enviva. “In our recently announced goal of achieving net-zero greenhouse gas emissions by 2030, we committed to proactively engage with our partners and other key stakeholders to adopt clean energy solutions in our supply chain and this is one of the first opportunities for us to explore carbon reductions in our Scope 3 emissions.
MOL has been a long-term shipping partner of Enviva, providing a consistently professional and reliable shipping service, and we look forward to our new level of partnership which will positively impact climate mitigation and reduce carbon emissions.”
Toshiaki Tanaka, Managing Executive Officer and Chief Environment and Sustainability Officer of MOL said, “We are truly excited about this partnership, and it comes at a perfect timing as we start our new business entity, MOL Drybulk, this April. By integrating the various areas of Drybulk businesses amongst our group, MOL Drybulk will aim to improve our service and provide solutions to meet the various needs of our customers, including the reduction of emissions from our shipping service. This is not an easy challenge, especially when we aim to introduce new technologies such as the Wind Challenger, so it is extremely encouraging to have Enviva as our partner, whose core mission is to fight climate change, and with their passion and determination, have proved that they can make a difference.”
Plans to develop the Wind Challenger started in 2009 as an industry-academia joint research project led by the University of Tokyo. MOL took charge of the plan in 2018 and has been working on the technology since. The first Wind Challenger is scheduled to be released in 2022. The system converts wind energy to propulsive force with a telescopic hard sail. The long-term goal is to develop a widely accepted shipping solution to achieve the International Maritime Organization target in combination with other measures to reduce GHG by equipping vessels with multiple sails.
For more details about the Wind Challenger and its transformative technology take a look at a feature video here.
About Enviva Partners, LP
Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, Europe, and increasingly in Japan. The Partnership owns and operates nine plants with a combined production capacity of approximately 5.3 million MTPY in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, the Partnership exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia and the Port of Wilmington, North Carolina and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com and follow us on social media @Enviva.
About Mitsui O.S.K. Lines, Ltd. (MOL)
Mitsui O.S.K. Lines, Ltd. (MOL), as a global marine transport group, operates a global fleet exceeding 700 vessels, including tankers, bulkers, car carriers, ferries, which also extends to offshore projects. Under the “MOLGROUP Environmental Vision 2.0” established in June 2020, MOL clarifies its commitment to achieve sustainable “Net Zero GHG Emissions” through collective efforts with all capabilities within the group.
MOL has recently announced the integration of their Drybulk business and the establishment of “MOL Drybulk Ltd.” From this April. MOL Drybulk will be a unique entity operating vessel ranging from 10,000DWT up to 100,000DWT bulk carriers, wood chip carriers and multi-purpose vessels, with the aim to provide a “one-stop service” to the customers, work collaboratively to meet their needs and provide environmental solutions to reduce the GHG emissions throughout the supply chain.
Maria Moreno
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DUBLIN--(BUSINESS WIRE)--The "Small Internal Combustion Engine Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Fuel Type, Cylinders, Power Output, and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
Increase in Adoption of Small Off-Road Internal Combustion Engines to Lead Small Internal Combustion Engine (ICE) Market Growth
The market was valued at US$ 4,450.14 million in 2019 and it is projected to reach US$ 5,280.83 million by 2027. It is expected to grow at a CAGR of 4.5% from 2019 to 2027.
The internal combustion (IC) engine manufacturing industry is continuously evolving with innovations in product offerings to support emission targets. Rising demand for fuel efficient and low pollution emitting engines to reduce the amount of air pollution is propelling the market growth. However, advent of electric motors in transportation, automotive, and other sectors in the global market is hampering the market growth.
However, small internal combustion engines still have an opportunity to sustain the growth owing to their improved fuel efficiency. Rising demand for miniaturization of power equipment to optimize space and design is being fulfilled with small internal combustion engines. This new power equipment needs to perform better within similar space or smaller space for which major companies are selecting small IC engines.
The natural gas used in small engines combustion technology has a potential to resolve the high emission problems and it would help the manufacturers to meet new regulatory norms. There is an increase in adoption of small internal combustion engines in South America, Africa, and Asia, while North America and Europe would be moving toward electric motors during the forecast period.
Increasing adoption of small IC engines in agriculture, residential, and construction sectors is supporting the growth of the small internal combustion engine market. The global small internal combustion engine market is segmented based on fuel type, cylinders, power output, end-use industry, and geography.
Based on fuel type, the market is segmented into gasoline, diesel, and gas. The gasoline segment is further segmented into compressed natural gas (CNG), liquefied petroleum gas (LPG), and liquefied natural gas (LNG). In terms of cylinders, the market is segmented into 1, 2, 3, and 4. Based on power output, the market is segmented into 1-5 kW, 6-10 kW, and 11-20 kW.
Caterpillar; Cummins Inc.; Fairbanks Morse; INNIO; Kawasaki Heavy Industries, Ltd; Liebherr Group; MITSUBISHI HEAVY INDUSTRIES, LTD.; Rolls-Royce plc; Wartsila; and Yanmar Holdings Co., Ltd are among leading players operating in the small internal combustion engine (ICE) market.
Several other players are also functioning and contributing significant revenues in the small internal combustion engine (ICE) market.
COVID-19 Impact on Small Internal Combustion Engine (ICE) Market
The COVID-19 crisis is affecting the industries worldwide. The outbreak has created significant disruptions in primary industries, such as consumer electronics, semiconductor, automotive, and IT infrastructure.
All these industries are crucial for the growth of global small internal combustion engine (ICE) market as they are the major demand generation industries for small internal combustion engines. Factory shutdowns, travel bans, trade bans, and lockdowns to combat and contain the outbreak have affected both manufacturing and sales of various consumer electronic products and components.
The global electronics & semiconductor industry is one of the major industries that is suffering serious disruptions due to supply chain issues and manufacturing shutdowns.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Market Landscape
5. Small Internal Combustion Engine Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Emission Norms Creating Demand for Efficient Fuel Engines
5.1.2 Increase in Adoption of Small Off-Road Internal Combustion Engines
5.2 Market Restraints
5.2.1 Inclination Toward Electric Energy over Fossil Fuels
5.3 Market Opportunities
5.3.1 Increasing Consumption of Combustion Engines in Developing Countries
5.4 Future Trends
5.4.1 Integration of Turbocharging and Remote Monitoring
5.5 Impact Analysis of Drivers and Restraints
6. Small Internal Combustion Engine Market - Global Analysis
6.1 Global Small Internal Combustion Engine Market Overview
6.2 Global Small Internal Combustion Engine Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Small Internal Combustion Engine Market Analysis 2027 - by Fuel Type
7.1 Overview
7.2 Small Internal Combustion Engine Market Breakdown, by Fuel Type (2019 and 2027)
7.3 Gasoline
7.4 Diesel
7.5 Gas
7.5.1 Overview
7.5.2 Gas Market Forecast and Analysis
7.5.3 Compressed Natural Gas (CNG)
7.5.4 Liquefied Petroleum Gas (LPG)
7.5.5 Liquefied Natural Gas (LNG)
8. Small Internal Combustion Engine Market Analysis 2027- By Cylinders
8.1 Overview
8.2 Small Internal Combustion Engine Market Breakdown, by Cylinder, 2019 and 2027
9. Small Internal Combustion Engine Market Analysis 2027 - by Power Output
9.1 Overview
9.2 Small Internal Combustion Engine Market Breakdown, by Power Output, 2019 & 2027
9.3 1-5 kW
9.4 6-10 kW
9.5 11-20 kW
10. Small Internal Combustion Engine Market Analysis 2027- By End User
10.1 Overview
10.2 Small Internal Combustion Engine Market Breakdown, By End User, 2019 and 2027
10.3 Power Generation
10.4 Manufacturing
10.5 Oil & Gas
10.6 Transportation
11. Small Internal Combustion Engine Market - Geographic Analysis
11.1 Overview
12. Impact of COVID-19 Pandemic on Global Small ICE Market
13. Industry Landscape
13.1 Merger and Acquisition
13.2 New Development
14. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/q2nvzf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Utilizing artificial intelligence and sophisticated grid emissions intensity data, this collaboration is set to reduce the carbon footprint of buildings by 20 to 50+ percent
MONTREAL & OAKLAND, Calif.--(BUSINESS WIRE)--BrainBox AI, a pioneering leader in autonomous building technology, today announced a partnership with WattTime, an environmental tech nonprofit that empowers people and organizations to slash emissions and use cleaner energy. This partnership will drive increased energy savings and CO2 reductions in commercial real estate across North America. A flagship project with the Great Lakes Protection Fund will similarly leverage joint technology solutions to reduce mercury emissions throughout the Great Lakes watershed.
BrainBox AI is the world’s first fully autonomous artificial intelligence (AI) technology for Heating, Ventilation and Air Conditioning (HVAC) systems. BrainBox AI’s technology continuously makes micro-adjustments to a building’s existing HVAC system, in real-time, based on the monitoring of a multitude of internal and external data points. This industry-defining technology generates up to a 25% reduction in total energy costs, a 20-40% decrease in carbon footprint and a 60% increase in occupant comfort.
Complementarily, WattTime invented Automated Emissions Reduction (AER), software that allows IoT devices such as smart thermostats and electric vehicles to effortlessly and automatically run on cleaner energy. The AER signal enables smart devices—including commercial building energy management systems—to shift the timing of flexible energy use to sync with times of cleaner energy (e.g., wind or solar) and avoid times of dirtier energy (e.g., coal).
BrainBox AI is integrating WattTime’s dynamic marginal emissions signal into its AI data toolkit, to improve its model’s insights into CO2 and mercury emissions-reduction opportunities and enable continuous optimization to further reduce a building’s environmental footprint. The WattTime technology ‘supercharges’ BrainBox AI’s eco benefits, with up to an additional 15% emissions-reduction potential above and beyond baseline.
“Buildings are the largest consumers of energy on our planet and this exciting partnership with WattTime will not only create significant energy savings, but also make a very meaningful impact on the GHG emissions of buildings,” said Sam Ramadori, President of BrainBox AI. “Combining WattTime’s emissions data and signal with BrainBox AI’s autonomous AI technology is the kind of game-changing, scalable innovation that we desperately need to battle climate change.”
Additionally, BrainBox AI, WattTime, and the UC Berkeley Center for the Built Environment are partnering on a project funded by the Great Lakes Protection Fund, to combine the power of BrainBox AI’s optimization engine and WattTime’s AER to help buildings located in and around the Great Lakes reduce their mercury emissions.
“This partnership with BrainBox AI speaks directly to WattTime’s mission of increasing environmental and social good through data-driven tools that empower anyone, including building owners and operators, to choose cleaner energy,” said Laura Corso, Managing Director of Partnerships at WattTime. “We’re excited that this collaboration will enable BrainBox AI’s customers to make their buildings’ environmental footprint even lighter.”
If you are a building owner interested in the benefits of BrainBox AI and Automated Emissions Reduction at your building, please reach out to either WattTime or BrainBox AI.
About BrainBox AI
BrainBox AI was created in 2017 with the goal of redefining building automation through AI to be at the forefront of a green building revolution. Headquartered in Montreal, a global AI hub, BrainBox AI has a workforce of over 80 employees and supports real estate clients in numerous sectors, including office buildings, airports, hotels, multi-residential, long-term care facilities, grocery stores and commercial retail.
BrainBox AI is one of TIME' s Best Inventions of 2020 and works in collaboration with research partners including the US Department of Energy’s National Renewable Energy Laboratory (NREL), the Institute for Data Valorization (IVADO) as well as educational institutions including Montreal’s École de technologie supérieure (ETS) and McGill University. Learn more about BrainBox AI.
About WattTime
WattTime is an environmental tech nonprofit that empowers all people, companies, policymakers, and countries to slash emissions and choose cleaner energy. Founded by UC Berkeley researchers and now a subsidiary of RMI, we develop data-driven tools and policies that increase environmental and social good. We invented Automated Emissions Reduction (AER), software that allows IoT devices like smart thermostats and electric vehicles as well as entire buildings to effortlessly and automatically run on cleaner energy. We popularized emissionality, a technique to achieve greater avoided emissions through better siting of new renewable energy projects. And we co-founded the global Climate TRACE coalition, which harnesses remote sensing and software intelligence to monitor human-caused GHG emissions in near real time, bringing transparency and accessibility to global emissions. During the energy transition from a fossil-fueled past to a zero-carbon future, WattTime ‘bends the curve’ of emissions reductions to realize deeper, faster benefits for people and planet.
MEDIA
BrainBox AI – USA
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Montieth & Company
646.864.3568
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IRVING, Texas & STUTTGART, Germany--(BUSINESS WIRE)--ExxonMobil and Porsche are testing advanced biofuels and renewable, lower-carbon eFuels, as part of a new agreement to find pathways toward potential future consumer adoption.
The first iteration of Esso Renewable Racing Fuel is a blend of primarily advanced biofuels and is specially formulated by ExxonMobil’s in-house team of scientists and engineers. Analysis indicates the potential to significantly reduce greenhouse gas emissions with a liquid fuel. The fuel will be tested in race conditions with Porsche’s high-performance motorsports engines during the 2021 Porsche Mobil 1 Supercup race series.
Porsche and ExxonMobil’s collaboration will also focus on eFuels, which are synthetic fuels made from hydrogen and captured carbon dioxide. As early as 2022, the companies plan to test the second iteration of Esso Renewable Racing Fuel, which will contain eFuel components. The eFuel is anticipated to achieve a greenhouse gas emissions reduction of up to 85 percent, when blended to current market fuel standards for today’s passenger vehicles.i
“The electrification of our vehicles is of highest priority to us,” said Michael Steiner, Member of the Executive Board, Research and Development of Porsche. “eFuels are a good complement to our powertrain strategy. They allow our customers to drive cars with conventional combustion engines as well as plug-in hybrids with significantly lower greenhouse gas emissions. The collaboration with ExxonMobil enables us to test the eFuels under demanding conditions on the racing track. This is a further step towards making eFuels an affordable and lower greenhouse gas emission substitute to conventional fuels.”
The eFuel will be sourced from the Haru Oni pilot plant based in Chile that generates hydrogen, which is then combined with captured carbon dioxide drawn from the atmosphere to produce methanol. ExxonMobil is providing a license and support for the proprietary technology to convert the methanol to gasoline, which will result in a lower-carbon fuel.
In the pilot phase, around 35,000 gallons of eFuels will be produced in 2022. As the fuel’s primary user, Porsche will use the eFuels from Chile among others in the Porsche Mobil 1 Supercup starting in the season of 2022.
“Over the past quarter century, we have worked together with Porsche to develop high-performance products that support Porsche’s vehicle performance on the racetrack and on the road,” said Andy Madden, vice president of strategy and planning for ExxonMobil Fuels & Lubricants. “Our continued collaboration on renewable and eFuels is a critical step in assessing the technical capability and commercial viability of fuels that can significantly reduce emissions.”
The first on-track testing of Esso Renewable Racing Fuel is scheduled for March 30, 2021 in Zandvoort, Netherlands, and will continue throughout the 2021 and 2022 Porsche Mobil 1 Supercup race series.
The collaboration with Porsche builds on ExxonMobil’s continuing efforts to develop and deploy lower-emission energy solutions, including high-efficiency fuels and lubricants, advanced plastics and other products that can enable cars and trucks to use less fuel. For example, the two companies have collaborated on a line of specially formulated lubricants for the electric vehicles market, Mobil EV™range.
In January, ExxonMobil announced the creation of a new business, ExxonMobil Low Carbon Solutions, to commercialize its extensive low-carbon technology portfolio and plans to invest $3 billion on lower emission energy solutions through 2025. Last year, ExxonMobil announced plans to distribute renewable diesel within California and potentially other domestic and international markets as soon as 2022.
Over the past two decades, ExxonMobil has invested more than $10 billion to research, develop and deploy lower-emission energy solutions, resulting in highly efficient operations that have eliminated or avoided approximately 480 million tonnes of CO2 emissions - the equivalent of taking more than 100 million passenger vehicles off the road for a year.ii
Porsche is committed to invest $17.9 billion in electromobility and digitalization by 2025. In 2030 the sports car manufacturer will offer more than 80 percent of its vehicles with electric engines. The company seeks carbon neutrality in its products and operations by 2030, investing around $1.2 billion in sustainable mobility.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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About Porsche
Dr. Ing. h.c. F. Porsche AG, with headquarters in Stuttgart-Zuffenhausen, is one of the most profitable car makers in the world. In 2020, Porsche delivered 272,000 vehicles of the 911, 718 Boxster, 718 Cayman, Cayenne, Macan, Panamera and Taycan models to customers worldwide. That was three per cent less than the year before. Thereby, the sports car manufacturer's operating profit before special items amounted to $5 billion. Porsche operates plants in Stuttgart and Leipzig as well as a development centre in Weissach. The sports car manufacturer employs 36,000 people. Porsche is committed to innovation, many of the technologies have their origins in motorsport. Porsche is aware of every aspect of its corporate responsibility: economic, environmental and social.
To learn more, visit https://newsroom.porsche.com/en.html.
Cautionary Statement
Statements of future events, plans or product offerings in this release are forward-looking statements. Actual future results, including product offerings, timing, production capacity, and the impact and results of new technologies on product efficiency and life-cycle emission reductions could vary depending on the outcome of general business conditions; further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; political and regulatory developments; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
Important Additional Information Regarding Proxy Solicitation
Exxon Mobil Corporation (“ExxonMobil”) has filed a definitive proxy statement and form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for ExxonMobil’s 2021 Annual Meeting (the “Proxy Statement”). ExxonMobil, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the 2021 Annual Meeting. Information regarding the names of ExxonMobil’s directors and executive officers and their respective interests in ExxonMobil by security holdings or otherwise is set forth in the Proxy Statement. To the extent holdings of such participants in ExxonMobil’s securities are not reported, or have changed since the amounts described, in the Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of ExxonMobil’s Board of Directors for election at the 2021 Annual Meeting are included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING BLUE PROXY CARD, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a copy of the Proxy Statement and other relevant documents filed by ExxonMobil free of charge from the SEC’s website, www.sec.gov. ExxonMobil’s shareholders can also obtain, without charge, a copy of the Proxy Statement and other relevant filed documents by directing a request by mail to ExxonMobil Shareholder Services at 5959 Las Colinas Boulevard, Irving, Texas, 75039-2298 or at This email address is being protected from spambots. You need JavaScript enabled to view it. or from the investor relations section of ExxonMobil’s website, www.exxonmobil.com/investor.
i [i] The GHG emissions reduction stated here, relates to the comparison of the calculated carbon footprint of product (CFP) for the renewable components in the PMSC race fuel versus a 94 grams CO2e/MJ of EU Renewable Energy Directive II baseline comparator. Emissions reduction of up to 85% from renewable components vs. conventional are based on carbon footprint of product calculations conducted under ISO 14067 methodology, effectively referenced as a well-to-wheels boundary, taking into account the feedstock, production, transportation, and combustion related emissions to manufacture the blend of renewable components mentioned here. A functional unit of 1 MJ of fuels was used for the comparison.
ii [ii] 480 million tonnes of CO2 emissions is equivalent to approximately 104 million passenger vehicles driven for one year according to the U.S. EPA greenhouse gas equivalences calculator. https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
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Combination Creates a Maximo Implementation Center of Excellence and Leading Digital Integrator of Infrastructure Digital Twins
EXTON, Pa.--(BUSINESS WIRE)--The Cohesive Companies, a wholly owned but independently operated digital integrator business unit of Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the acquisition of Ontracks Consulting, a leading implementer of IBM Maximo headquartered in Edmonton, Alberta, Canada. Ontracks specializes in strategic asset management and operational performance improvement for asset-intensive organizations in energy, utilities, transportation, mining, manufacturing, and government.
The Cohesive Companies address growing demand for enterprise asset management (EAM) and asset lifecycle information (ALIM) environments, leading the way to performance digital twins for public works and industrial/resources infrastructure. The acquisition of IBM Platinum Business Partner Ontracks, joining The Cohesive Solutions and SRO Solutions, adds strength and depth to The Cohesive Companies’ already significant Maximo business.
Asset-intensive organizations need new ways to ramp up their traditional requirements for safety and reliability while improving agility and keeping their costs low. Emerging technologies, leveraging digital twins and the Internet of Things (IoT), are helping to identify and manage asset reliability risks, minimize unplanned downtime, maximize equipment lifespan, and optimize productivity. Ontracks is a leader in providing infrastructure owner-operators enterprise asset management expertise to address these opportunities.
Ontracks offers extensive experience integrating data from varied sources, such as IoT sensors, operational technology (OT) systems, and enterprise resource planning (ERP) systems. Client organizations depend on Ontracks to help deploy Maximo quickly, leverage industry best practices, and decrease overall cost of ownership. Ontracks recently launched Maximo Fastrack, a turnkey, cloud-based Maximo solution that comes pre-packaged with the most common Maximo configurations and workflows. Ontracks is an active contributor to the Canadian Maximo User Group (CanMUG) and to GOMAXIMO, a gas, oil and petrochemical industry-sponsored working group.
Noah Eckhouse, The Cohesive Companies CEO, said, “We are truly excited to welcome the Ontracks team and add their deep experience and skills to The Cohesive Companies—creating a global Maximo implementation powerhouse. Ontracks has consistently delivered positive outcomes for their clients over the past decade, focused on Maximo-based solutions in a variety of industries. By connecting the operational space with the asset and maintenance world, Ontracks is creating examples of success with infrastructure digital twins.”
Craig Mackenzie, co-founder of Ontracks, said, “All of us at Ontracks are looking forward to joining forces with The Cohesive Companies and expanding our scope and capacity to help our users drive their digital transformations. The digital integration of operational technologies with engineering technologies and information technology has massive potential, and Maximo can be a cornerstone of that digital twin vision. As one of The Cohesive Companies, we will be even more empowered to turn that vision into reality.”
Image: Crane
Caption: Ontracks is a leading North American implementer of IBM Maximo and provides services to a multitude of industries, including oil and gas, mining, utilities, and other asset-intensive organizations.
About The Cohesive Companies
The Cohesive Companies form a wholly owned but independently operated business unit of Bentley Systems (Nasdaq: BSY, the infrastructure engineering software company www.bentley.com). The Cohesive Companies provide advisory, systems integration, and technology strategies and services to help infrastructure owner-operators advance their BIM, enterprise asset management (EAM), and asset lifecycle information (ALIM) environments through performance digital twins. The Cohesive Companies comprise PCSG (leading provider of digital advisory services for built-environment owners), SRO Solutions (leading UK-based provider of solutions for IBM’s Maximo EAM software), Cohesive Solutions and Ontracks Consulting (leading North American implementers of Maximo, helping owner-operators to continuously improve their asset management) and Cohesive Asset Performance (leading global integrator for Asset Performance Modeling). www.cohesivecompanies.com
© 2021 Bentley Systems, Incorporated. Bentley, Cohesive Solutions, Cohesive Asset Performance, PCSG, SRO Solutions, Ontracks, and The Cohesive Companies are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries. All other brands and product names are trademarks of their respective owners.
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One year after first major COVID-19-related declines, gasoline demand improves. But recovery toward pre-pandemic levels remains slow
GAITHERSBURG, Md.--(BUSINESS WIRE)--Year-on-year gasoline sales in the United States have moved into positive territory for the first time—on the one-year anniversary of the first major declines that resulted from COVID-induced stay at home orders. However, demand still trails pre-pandemic levels by a considerable margin, according to the latest data from Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO).
U.S. gasoline same-store sales in gallons for the week ending March 20, 2021 were 10.1% higher than 2020, according to OPIS Demand, a weekly survey of more than 25,000 fuel stations nationwide.* Nevertheless, same-store gasoline sales were still 16% below pre-pandemic levels.
“The year-on-year increase in fuel demand from March 2020 is certainly welcome news for the recovery of the economy and the beginning of the return to normal life for the American people,” said Brian Norris, executive director of retail fuels, OPIS by IHS Markit. “But the real measure of recovery will be a return to pre-pandemic levels. It’s there that progress remains slow and, looking at gasoline, we still have a long way to go.”
Prior to the week ending March 20, 2021, gasoline volumes had mostly hovered in the range of 15% to 18% below prior-year levels since the start of 2021. The main exception was the week ending February 20, which saw a year-on-year decline of 22.4% due to impacts from Winter Storm Uri.
Retail gasoline sales volumes moving into positive territory compared to prior-year numbers for the week ending March 20 are not due to a major increase in demand but more reflect the massive declines that were seen at the pump during the same period last year. The week ending March 21, 2020 saw volumes trail 2019 levels by 23.6%, the first week in a four-week stretch that saw weekly U.S. gasoline sales volumes plummet to levels not seen since the Nixon Administration was in office in the early 1970s, culminating with volumes 47.5% behind prior-year levels the week ending April 11.
The extent of the current rebound varies by region. The Southwest region surpassed 2020 volumes by 15%. Meanwhile, the Southeastern part of the United States surpassed 2020 levels by only 8.6%, largely due to many states in the Southeast not moving as quickly to mandated stay at home orders as the rest of the country did last year.
The regional disparity in gasoline demand recovery is also apparent when looking at state-level data. California saw some of the earliest declines in gallons sold due to the west coast largely being the early epicenter of the COVID-19 pandemic in the United States. Compared to last year, gasoline sales are up 14.6% in California, however volumes still trail same-week 2019 by 22.7% on a same-store basis. Florida, on the other hand, was not as quick to enact quarantine mandates, and the data paints a very different demand picture. Fuel retailers in Florida saw a much-smaller 6.4% increase versus last year, but only trail demand levels from two years ago by 11.2%.
There is optimism that additional “pent up” demand could be released this summer, with the Biden Administration announcing that every adult in the U.S. will be eligible for the COVID-19 vaccine no later than May 1.
It is possible that gasoline demand could come close to or even surpass pre-pandemic levels at times. But still to be determined are the lasting impacts to work, lifestyle and consumer habits.
“The logic that gasoline demand will suddenly and permanently return to pre-pandemic levels fails to take into account the lingering effects of unemployment, dramatic cuts in urban, suburban and rural events, and hybrid models for commuting that allow for more people working from home,” said Tom Kloza, global head of energy analysis, OPIS by IHS Markit. “Even as the country gets back to normal, we are still to discover what the ‘new normal’ means.”
To learn more about the OPIS Demand Report or OPIS DemandPro, please contact Brian Norris, Executive Director – Retail Data and Product Management at OPIS, at This email address is being protected from spambots. You need JavaScript enabled to view it..
About OPIS (www.opisnet.com)
Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS and OPIS PetroChem Wire enable customers to buy and sell oil and gas products with confidence via easy access to transparent data, expert-level customer support, educational events and energy data solutions with Axxis Software and OPIS RetailSuite.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2021 IHS Markit Ltd. All rights reserved.
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DUBLIN--(BUSINESS WIRE)--The "Olefin Market Research Report by Product (1-Butene, 1-Decene, 1-Dodecene, 1-Hexane, and 1-Octene), by Application (Adhesives, Cosmetics, Detergent alcohol, Plasticizers, and Polyethylene) - Global Forecast to 2025 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Olefin Market is expected to grow from USD 19,523.68 Million in 2020 to USD 25,235.13 Million by the end of 2025.
Based on Geography, the Olefin Market is examined across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
Company Usability Profiles:
The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Olefin Market including Chevron Phillips, Exxon Mobil Corporation, Idemitsu Petrochemical, INEOS Oligomers, ONGC, Sasol, Shell Chemical Ltd., and Sinopec Beijing Yanhua.
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward.
The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Olefin Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
3.1. Introduction
3.2. Market Outlook
3.3. Product Outlook
3.4. Application Outlook
3.5. Geography Outlook
3.6. Competitor Outlook
4. Market Overview
4.1. Introduction
4.2. Cumulative Impact of COVID-19
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.1.4. Challenges
5.2. Porters Five Forces Analysis
6. Global Olefin Market, By Product
6.1. Introduction
6.2. 1-Butene
6.3. 1-Decene
6.4. 1-Dodecene
6.5. 1-Hexane
6.6. 1-Octene
7. Global Olefin Market, By Application
7.1. Introduction
7.2. Adhesives
7.3. Cosmetics
7.4. Detergent alcohol
7.5. Plasticizers
7.6. Polyethylene
7.7. Synthetic lubricants
8. Americas Olefin Market
8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States
9. Asia-Pacific Olefin Market
9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. South Korea
9.10. Thailand
10. Europe, Middle East & Africa Olefin Market
10.1. Introduction
10.2. France
10.3. Germany
10.4. Italy
10.5. Netherlands
10.6. Qatar
10.7. Russia
10.8. Saudi Arabia
10.9. South Africa
10.10. Spain
10.11. United Arab Emirates
10.12. United Kingdom
11. Competitive Landscape
11.1. FPNV Positioning Matrix
11.2. Market Ranking Analysis
11.3. Market Share Analysis
11.4. Competitor SWOT Analysis
11.5. Competitive Scenario
12. Company Usability Profiles
12.1. Chevron Phillips
12.2. Exxon Mobil Corporation
12.3. Idemitsu Petrochemical
12.4. INEOS Oligomers
12.5. ONGC
12.6. Sasol
12.7. Shell Chemical Ltd.
12.8. Sinopec Beijing Yanhua
For more information about this report visit https://www.researchandmarkets.com/r/m4dtiz
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WARREN, Mich.--(BUSINESS WIRE)--To support worldwide demand, Applied Fiber is licensing its fiber rope socketed termination technology to select industry partners. Licensed partners will have access to Applied Fiber’s substantial portfolio of products, applications, and service to expand the use of terminated fiber rope globally – growing market potential and new opportunities.
Richard Campbell, CEO of Applied Fiber, commented, “The careful management and control of our core processing is essential to achieving the efficiencies and required performance for all applications. Digitization of our manufacturing equipment allows for real time management of quality across all critical stages. Given the importance of safety, reliability, and supply chain stability in the end-use applications, our selection of an automation partner was focused on the capability to support a network of equipment around the globe on a 24-7 basis, coupled with expertise to deliver state-of-the-art manufacturing capability for responsibly managing remote processing operations which are critical to end-use performance. Our requirements for build quality, design capability, relevant experience, and tier-one design and support commitment lead us to Eckhart, an Industry 4.0 advanced manufacturing solutions provider. Eckhart designs, implements, and sustains automation for some of the largest manufacturing companies in the world.”
Eckhart President & CEO Andy Storm said, “Very few companies establish a universally endorsed brand or forge a new industry segment. Applied Fiber has achieved both. Through our announced partnership, our team of dedicated engineers is excited to design, build, and integrate highly automated systems for Applied Fiber and its licensed partners.”
Applied Fiber and Eckhart plan to deliver the first digitally managed processing equipment during Q4 of 2021.
About Eckhart
For over 60 years and based in Warren, Michigan, Eckhart designs, builds, and sustains advanced industrial solutions that enhance the quality of life. Eckhart’s proven portfolio of Industry 4.0 technology includes autonomous guided vehicles (AGVs), collaborative robotic systems, traditional robotics, assembly automation & simulation, 3D printing tool development & production, and Factory of the Future consulting for the world’s largest manufacturers. Eckhart serves an established and loyal blue-chip customer base of leading industrial original equipment manufacturers including 3M, Boeing, Pepsico, Stryker Medical, General Electric, Ford, Tesla, John Deere, Honda, Subaru, Honeywell, Schneider Electric, Bradford White, Cargill, Whirlpool, Toyota, Mercedes, and Caterpillar. Learn more at www.eckhartusa.com
About Applied Fiber
Applied Fiber® is the leading company for terminated synthetic fiber tension systems worldwide. The company’s advanced products are utilized where performance and reliability are essential, whether high volume OEM production or mission-critical specialty applications. Applied Fiber® delivers engineered tension systems across Mining, Offshore Oil and Gas, Medical, Commercial Marine, Renewable Energy, Military, Aerospace, and other Industrial markets. www.applied-fiber.com
Andrew P. Storm 517-321-7700
A 92-megawatt wind project in southwestern Wisconsin would provide enough clean energy to power about 40,000 households.
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE), in partnership with Wisconsin Public Service (WPS), a subsidiary of WEC Energy Group, is seeking approval from the Public Service Commission of Wisconsin (PSCW) to purchase part of the Red Barn Wind Farm. If approved, MGE will own 9.1 megawatts (MW) of the 92-MW wind farm to be built in the Towns of Wingville and Clifton in Grant County.
"We are doing everything we can today to lower carbon emissions as quickly and as cost-effectively as we can. The Red Barn Wind Farm is another opportunity for MGE to invest further in cost-effective, clean energy as we move toward carbon reductions of at least 65% by 2030 and our goal of net-zero carbon by 2050," said Jeff Keebler, MGE Chairman, President and CEO. "We have said since announcing our goals, if we can go further faster through partnerships with our customers and the evolution of new technologies, we will."
The Red Barn Wind Farm will help MGE to meet future energy and capacity needs cost-effectively as the company continues its ongoing transition away from coal-fired electricity with the planned retirement of the Columbia Energy Center in Portage by the end of 2024. The project, if approved, is part of more than 300 MW of new renewable generation capacity announced since MGE introduced its Energy 2030 framework for a more sustainable future in November 2015.
Red Barn Wind Farm
If approved, the Red Barn Wind Farm will be developed by PRC Wind and constructed by ALLETE Clean Energy. The approximately 12,000-acre project will feature 28 turbines. WPS will own the remaining 82.5 MW.
Construction is expected to begin in 2022, if approved. The Red Barn Wind Farm is expected to begin serving customers by the end of 2022. MGE's share of the Red Barn Wind Farm will power about 4,000 households.
MGE's net‐zero carbon electricity goal
In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities in the nation to commit to net-zero carbon by mid-century. MGE's net-zero goal is consistent with the latest climate science from the Intergovernmental Panel on Climate Change (IPCC) October 2018 Special Report on limiting global warming to 1.5 degrees Celsius.
To achieve deep decarbonization, MGE is growing its use of renewable energy, engaging customers around energy efficiency and working to electrify transportation, all of which are key strategies identified by the IPCC.
About MGE
MGE generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Steve Schultz
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COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE Solutions” or “GSE”) (Nasdaq: GVP), a leader in delivering and supporting engineering, compliance, simulation, training and workforce solutions to the power and process industries, today announced that a major energy company in Canada has contracted with GSE to upgrade their on-premises training platform to the new EnVision software as a Service (SaaS) subscription solution, which includes ten comprehensive operational courses.
EnVision is a cloud-based workforce development solution used by more than 12,000 people around the world, allowing them to learn and train on critical operations anytime, anywhere. EnVision combines computer-based tutorials with high-fidelity simulation models for industry and academic institutions to safely teach operating fundamentals in addition to specialized operational skills.
“EnVision allows us to provide operators with top-quality technical training, wherever and whenever it’s needed,” said Gill Grady, Senior Vice President of Corporate Business Development at GSE Solutions. “The EnVision SaaS model means lower infrastructure investment and the ability to access training from any computer, not just dedicated in-person learning centers.”
“We are confident that this long-time customer will derive tremendous value from their EnVision On-Demand cloud-based subscription,” added Kyle Loudermilk, President and CEO of GSE Solutions. “The conversion of a perpetual license to a SaaS subscription is a win-win for the customer and GSE. With the SaaS solution, all the customer needs are a browser and internet connectivity to benefit from this state-of-art workforce development solution. From fundamentals through unit operations, EnVision provides access to rich learning content to plant operators, engineers, and management with the added benefit of cloud delivery to simplify their learning operation.”
ABOUT GSE SOLUTIONS
We are the future of operational excellence in the power industry. As a collective group, GSE Solutions leverages top skills, expertise, and technology to provide highly specialized solutions that allow customers to achieve the performance they imagine. Our experts deliver and support end-to-end training, engineering, compliance, simulation, and workforce solutions that help the power industry reduce risk and optimize plant operations. GSE is proven, with over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. www.gses.com
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DUBLIN--(BUSINESS WIRE)--The "Natural Gas Distribution Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global natural gas distribution market is expected to grow from $466.18 billion in 2020 to $553.09 billion in 2021 at a compound annual growth rate (CAGR) of 18.6%.
Natural Gas Distribution Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global natural gas distribution market as it emerges from the COVID-19 shut down.
Major companies in the natural gas distribution market include Centria; Osaka Gas; Tokyo Gas; GAIL India; and Gas Natural Fenosa.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $758.91 billion in 2025 at a CAGR of 8%.
Asia Pacific was the largest region in the global natural gas distribution market, accounting for 28% of the market in 2020. Eastern Europe was the second largest region accounting for 23% of the global natural gas distribution market. South America was the smallest region in the global natural gas distribution market.
Companies in the natural gas distribution industry are investing in robotic wireless in-pipe leak detection systems for faster repair of leakages. Traditional detection systems are often slow. The new robotic technology can detect leaks at a faster pace and with high accuracy.
The robotic devices uses laser beams to detect potential leak points by analyzing the gas concentration in close proximity. This technology provides reliable results and reduced amount of data to be processed in detection to plug gas leakage. For instance, A6 OMD robot, developed by SMP Robotics, is used to detect underground pipeline gas leaks. It uses GPS to frame a map to locate the gas leak for a pipeline of any length.
Companies in the natural gas distribution market are using alternate modes of natural gas transportation for the delivery of natural gas through land. Natural gas is transported mostly through pipes or through shipping vessels. However, companies are now exploring the use of railroads for the delivery of natural gas.
Transporting natural gas through rails might allow the companies to expand its reach to remote industrial areas. Following the trend, in 2019, the U.S Pipeline and Hazardous Materials Safety Administration approved New Fortress Energy's plan to transport natural gas from Pennsylvania's Marcellus Shale by train for about 175 miles to South Jersey, U.S.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Natural Gas Distribution Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Natural Gas Distribution Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Natural Gas Distribution Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Natural Gas Distribution Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Natural Gas Distribution Market Trends And Strategies
8. Impact Of COVID-19 On Natural Gas Distribution
9. Natural Gas Distribution Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Natural Gas Distribution Market Regional Analysis
10.1. Global Natural Gas Distribution Market, 2020, By Region, Value ($ Billion)
10.2. Global Natural Gas Distribution Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Natural Gas Distribution Market, Growth And Market Share Comparison, By Region
11. Natural Gas Distribution Market Segmentation
11.1. Global Natural Gas Distribution Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.2. Global Natural Gas Distribution Market, Segmentation By Type of Operator, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Natural Gas Distribution Market Segments
12.1. Global Industrial And Commercial Natural Gas Distribution Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.2. Global Household Natural Gas Distribution Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
13. Natural Gas Distribution Market Metrics
13.1. Natural Gas Distribution Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Natural Gas Distribution Market Expenditure, 2015-2025, Global
Companies Mentioned
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Itron’s New eHZ-B Smart Meter Equips Utilities and Cities to Meet Germany’s Ongoing Energy Transition
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#ehz--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, today announced the launch of its eHZ-B residential smart meter for utilities and cities in Germany. The latest addition to Itron’s proven 3.HZ FNN-compliant portfolio, the eHZ-B smart meter is built with advanced functionality to support Germany’s ongoing energy transition to a low carbon, environmentally sound, reliable and affordable energy supply, and equip utilities and cities to safely migrate to a smart and connected distribution network.
Building on Itron’s expertise in supporting smart meters rollouts across Europe, eHZ-B is designed to meet the specifications and regulations in the German market. Interoperable with industry standards, eHZ-B integrates with multi-vendor environments, and seamlessly communicates with the Smart Meter Gateway (SMGw) through Transport Layer Security (TLS) encryption. Keeping a constant pulse on the electricity grid, eHZ-B protects digital transmission with embedded next-gen encryption support.
“At Itron, we believe that supporting our customers in their projects is what success looks like. We are excited to bring a new smart meter to German utilities, cities and partners to help them build a solid foundation for a connected distribution network,” said Justin Patrick, senior vice president of Device Solutions at Itron. “With our expertise and solutions, we strive to provide cities and utilities the trusted partnership they need to meet their modernization and digitalization initiatives.”
“As an expert in economic full rollouts of intelligent measuring systems, our mission is to transform the way German cities manage their distribution network and Itron’s solution helps us fulfill that mission,” said Bouke Stoffelsma, director at Hausheld AG. “By partnering with Itron and implementing their smart meters in our offering, we’re confident that we have the right partner and products to better serve the communities and cities in the region.”
"We at EnBW are committed to ensuring that electricity from renewable energy sources is reliably available to everyone. Together with important partners such as Itron, we continue to develop our technical systems in a sustainable and innovative way," said EnBW in a company statement. "The new FNN base meter is a welcome building block in this process.”
Availability
The eHZ-B residential electricity meter is available now in Germany. Click here to learn more.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
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Market growth driven by high-density and dual-cell battery systems
BOSTON--(BUSINESS WIRE)--The global market for smartphone battery cells reached a total revenue of $7.5 billion in CY 2020, according to the Strategy Analytics Handset Component Technologies service report, “Smartphone Battery Market Share Q4 2020: ATL Takes First Place.”
This Strategy Analytics research finds that the total smartphone battery market revenue saw an increase of 7 percent year-over-year in 2020. The market was led by Amperex Technology Ltd (ATL), capturing 42 percent revenue share followed by LG Energy and Samsung SDI in 2020. The top-three vendors captured almost 83 percent revenue share in the global smartphone battery market in 2020. The vendors drove their success by customizing battery cells to meet smartphone customer needs.
Jeffrey Mathews, Senior Analyst at Strategy Analytics commented, “The smartphone battery cell market revived as customer orders expanded in the second half of the year driven by seasonal smartphone launches. Smartphone OEMs increased the adoption of high-density cells and dual-cell battery system leading to the growth in market revenues. ATL saw impressive design wins in flagship smartphones which aided in the vendor’s battery cell shipments in 2020.”
Stephen Entwistle, Vice President of the Strategic Technologies Practice at Strategy Analytics commented, “We forecast battery cell shipments to rise on the back of growing demand for high-density cells to meet the mass market and 5G smartphone adoption. This will be further complemented by the uptake in fast charging smartphone technology.”
About Strategy Analytics
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.
Source: Strategy Analytics, Inc.
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Ransomware attacks targeting industrial control systems and OT environments are increasing—and costing organizations hundreds of millions of dollars each year
BOULDER, Colo.--(BUSINESS WIRE)--#CriticalIndustries--A new report from Guidehouse Insights analyzes the market for operational technology (OT) network detection tools in industrial control systems (ICS) environments, providing global market forecasts for revenue, broken out by segment and region, through 2030.
Threat actors are increasingly targeting user account credentials and permissions to exploit known vulnerabilities in ICS and OT environments. Using ransomware, these actors have the ability to disrupt physical operations and halt industrial processes in sectors considered critical for survival. Click to tweet: According to a new report from @WeAreGHInsights, global OT detection revenue across the critical manufacturing, energy, food and agriculture, and water and wastewater systems verticals is expected to grow from $505 million in 2021 to $1.8 billion in 2030 at a compound annual growth rate (CAGR) of 14.9%.
“Nearly 900 critical infrastructure asset owners have been hit by ransomware in publicly confirmed cases since 2013,” says Danielle Jablanski, senior research analyst with Guidehouse Insights. “Many asset owners lack visibility into their network devices, systems, data, and communications patterns to prevent these attacks, resulting in harm to production, automation, quality assurance, monitoring, and safety systems, and costing organizations hundreds of millions of dollars each year.”
Regionally, ransomware attacks on ICS are most prevalent in North America, followed closely by Europe and a growing percentage in Asia. Manufacturing and energy lead the drive for intrusion detection among critical infrastructure sectors, with manufacturing anticipated to experience the largest growth over the decade.
The report, Ransomware and Critical Infrastructure, analyzes the global market for operational technology (OT) detection tools in ICS environments in four critical infrastructure verticals: critical manufacturing, energy, food and agriculture, and water and wastewater systems. The study provides an analysis of the market issues, opportunities, and implementation challenges associated with network detection tools and ICS security. Global market forecasts for revenue, broken out by segment and region, extend through 2030 based on the estimated installation base for each vertical in each region. The report also examines the emergent technologies related to intrusion detection and provides business cases for intrusion detection system (IDS) vendors. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 8,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Ransomware and Critical Infrastructure, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
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WALL, N.J.--(BUSINESS WIRE)--New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources (NYSE: NJR), today filed a petition with the New Jersey Board of Public Utilities (BPU) requesting an increase of approximately $165.7 million to its base rates. Since its last base rate filing in 2019, NJNG has invested nearly $850 million in the safety, reliability and environmental benefits of its delivery system and operations. These investments are already at work benefiting customers, but are not currently reflected in rates.
“Nothing is more important to our company than safely and reliably delivering the energy our customers depend on for their homes and businesses,” said Steve Westhoven, President and CEO of New Jersey Resources. “We are dedicated to meeting that commitment in a sustainable, responsible way. The investments we’ve made in our system, as reflected in this filing, deliver on that commitment.”
The proposed rate adjustment is necessary to cover costs associated with infrastructure investments made by NJNG to maintain and enhance its natural gas delivery system and ensure the responsible operation of its business, including:
As part of its filing, NJNG is also seeking rate recovery for the Southern Reliability Link (SRL). NJNG expects the 30-mile transmission pipeline project to be placed into service this fall. Approved by the BPU in 2016, the SRL provides a new natural gas feed into the southern end of NJNG’s service territory, significantly enhancing the reliability and resiliency of its distribution system.
Currently, more than 85% of the natural gas supply used to serve customers in Monmouth, Ocean and Burlington counties is delivered through a single feed at the northern end of NJNG’s system. Any significant supply disruption on this line could negatively impact a majority of NJNG’s nearly 560,000 customers. SRL directly mitigates this risk by accessing a second interstate supply source that interconnects with the southern end of NJNG’s system.
Through this filing, NJNG is seeking to recover in rates appropriate costs for investments already made and expenses associated with operating its business, and to achieve a fair and reasonable outcome for ratepayers.
“We take our responsibility to deliver exceptional service at a reasonable rate seriously. This is achieved through a rigorous approval process with regulators,” Westhoven said. “We look forward to a successful resolution of this petition that is in the best interest of our customers and our company.”
Any customer having difficulty paying their natural gas bill should visit njng.com/energyassistance to learn about available energy assistance programs. Energy assistance is available for income-eligible customers through the Low Income Home Energy Assistance Program (LIHEAP), Universal Service Fund (USF) and Payment Assistance for Gas and Electric (PAGE) Program, NJ SHARES and NJNG’s own Gift of Warmth program.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. NJR cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond NJR’s ability to control or estimate precisely, such as estimates of future market conditions and the behavior of other market participants. Words such as “anticipates,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “believes,” “should” and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management’s current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon NJR. There can be no assurance that future developments will be in accordance with management’s expectations, assumptions and beliefs or that the effect of future developments on NJR will be those anticipated by management. Forward-looking statements in this release include, but are not limited to, certain statements regarding the base rate case, future NJR capital expenditures and infrastructure investments and the ability to complete SRL.
Additional information and factors that could cause actual results to differ materially from NJR’s expectations are contained in NJR’s filings with the U.S. Securities Exchange Commission (“SEC”), including NJR’s Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC’s web site, http://www.sec.gov. Information included in this release is representative as of today only and while NJR periodically reassesses material trends and uncertainties affecting NJR's results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, NJR does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
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6,344 ICE Murban Crude Oil futures contracts trade on day of launch
Additional 2,510 Murban related cash settled derivative contracts traded
27 firms traded on IFAD
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced the first day of trading of ICE’s newest exchange, ICE Futures Abu Dhabi (“IFAD”), and ICE Murban Crude Oil futures, the world’s first Murban futures contract.
ICE Murban Crude Oil Futures opened for trading on March 29, alongside 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude.
Market activity on ICE Futures Abu Dhabi on the first day of trading included:
“The depth of market activity on our first day of trading is extremely encouraging,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi. “On the first day of launch we saw active trading, consistently tight bid offer spreads, a high number of participants from both the physical and financial sides of the market, and liquidity out for the first six months of the curve. The mix of trading across the Murban futures contract and the cash settled derivatives reflects how our customers are already beginning to utilize the extensive range of tools we offer to trade and hedge Murban crude price exposure.”
Murban futures are open for trading for 24 hours a day on Mondays and 22 hours a day Tuesdays to Fridays, with investors from jurisdictions including Abu Dhabi Global Market, United States, Singapore, UK, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, able to trade on IFAD. IFAD has 26 Exchange Members and 19 Clearing Members, who are listed in full on IFAD’s Membership page.
Contracts traded on IFAD are cleared at ICE Clear Europe where they are cleared alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from critical margin offsets to enhance capital efficiency.
For more information on how to clear or trade IFAD markets please contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
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ATLANTIC CITY, N.J.--(BUSINESS WIRE)--In response to the Biden Administration's announcement today on offshore wind, Joris Veldhoven, treasurer and commercial director at Atlantic Shores Offshore Wind, a developer that has bid into the latest round of offshore wind solicitation in New Jersey, released the following statement:
“This bold agenda to develop offshore wind in the United States will create tens of thousands of jobs and build a more robust green energy economy in this country. The investments in strengthening port infrastructure and the domestic supply chain will open communities across the coastal U.S. up to tremendous economic opportunity on the international stage. As a developer, we appreciate the advancement of critical permitting milestones for projects in New Jersey and beyond. Together, these priorities will accelerate offshore wind growth and its many economic benefits for coastal communities.
"New Jersey is particularly well-poised to seize this opportunity and meet the growing demand for labor thanks to the strength of its unions. It’s why we are proud to be partnering with six local unions to train and hire the workforce that will build New Jersey’s green infrastructure as part of our bid submission. We look forward to working with elected officials at every level of government, in New Jersey and in Washington, to help realize this vision.”
About Atlantic Shores Offshore Wind, LLC:
Atlantic Shores Offshore Wind, LLC is a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America. The joint venture formed in December 2018 to co-develop a 183,353 acre Lease Area located approximately 10-20 miles off the New Jersey coast between Atlantic City and Barnegat Light. Atlantic Shores is strategically positioned to meet the growing demands of renewable energy targets in New York, New Jersey and beyond, with strong and steady wind resources close to large population centers with associated electricity demand. Atlantic Shores, once fully developed, has the potential to generate over 3,000 MW (3 GW) in wind energy and power nearly 1.5 million homes. The capital and expertise needed to develop such a large area is significant. Together, Shell and EDF Renewables have the investment capability and industry experience to bring this project to scale safely, efficiently and cost effectively. For more info: www.atlanticshoreswind.com
Julia Ofman
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